In this slideshare presentation, Emile Harmon discusses various common misconceptions about filing for bankruptcy and what it means to file. Also, the presentation includes misconceptions about the consequences of filing.

1. Misconceptions About Filing For
Bankruptcy Part II

2. Bankruptcy Misconception 6: Student loans are not always
nondischargeable. If the debtor can prove certain hardships,
then the debtor in fact may not have to pay all of their student
loans.

3. Bankruptcy Misconception 7: Individuals can file for bankruptcy
but leave out certain creditors. This is not only untrue but
fraudulent as well. Choosing to pay back some creditors and not
others is against the law and could lead to the debtor spending
time behind bars if he or she decides to do this.

4. Bankruptcy Misconception 8: It's untrue that family members
who loaned money to debtors will not get their money back. In
some cases, the debtor is allowed to pay back family members
after filing for bankruptcy. The debtor does need to include the
family members in the list of creditors, but the court might allow
the debtor to pay back the family member in order to maintain
the relationship.

5. Bankruptcy Misconception 9: If a debtor signs an agreement that a
debt cannot be discharged automatically makes the debt
nondischargeable. Usually these agreements are unenforceable
and can be mostly scare tactics.

6. Bankruptcy Misconception 10: When an individual files for
bankruptcy he or she will automatically lose his or her job.
Actually if an employee proves he or she was fired over a
bankruptcy filing, than the individual can choose to sue the
employer. On the other hand, once a person files for
bankruptcy and begins job searching, the employer can
choose not to give the person a job using the bankruptcy
filing as one of the factors.

7. Bankruptcy Misconception 10: When an individual files for
bankruptcy he or she will automatically lose his or her job.
Actually if an employee proves he or she was fired over a
bankruptcy filing, than the individual can choose to sue the
employer. On the other hand, once a person files for
bankruptcy and begins job searching, the employer can
choose not to give the person a job using the bankruptcy
filing as one of the factors.